The prices of paddy rice started firm in November, according to data from Cepea. This is due to higher domestic demand and has been seen despite the low pace of business in recent days. From October 31 to November 8, rice prices rose 1.4%, ending at BRL 81.28/bag (50 kg) on November 8. Brazilian paddy rice shipments reached record volume and revenue in October, considering the entire historical series of Secex, which began in 1997. Brazil exported 387 thousand tons of rice surpassing the highest volume of the series until then, which was of 316.24 thousand tons in June 2020. Revenue also hit a record, reaching USD 122.54 million in October this year.
Source: Agrolink (*Translated by Ia Niani)